Planet Labs price target lowered to $8 from $11 at Benchmark

Benchmark analyst Josh Sullivan lowered the firm’s price target on Planet Labs to $8 from $11 and keeps a Buy rating on the shares following the company’s Q4 report given the FY24 outlook and breakeven FY25 assumptions. The firm adds that in its view the acquisition of Sinergise "offers an interesting aspect" to Planet Labs’ "climb up the data analysis software stack."